Receivership

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Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 12th Jan
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 12th Jan
Practice notes
DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee in bankruptcy (trustee) has the power to disclaim...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan
Practice notes
This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 12th Jan
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 12th Jan
Practice notes
BrexitBREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note....
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9th Nov
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...
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9th Nov
Practice notes
This Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around an IBR•identify when an IBR may be...
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Produced in partnership with Allan Kelly of RSM 12th Jan

Most recent Receivership content

Practice notes
EmployeesThe appointment by the court of a receiver of the company will have the effect of automatically terminating all employee contracts. The...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
This Practice Note has been archived and is not maintained.The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before...
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Produced in partnership with Emma Knight of Three Stone 9th Apr
Practice notes
This Practice Note covers the procedural aspects following the appointment of a receiver in respect of an Isle of Man company or other corporate...
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Produced in partnership with Dougherty Quinn of Isle of Man Law Firm 9th Apr
Practice notes
The appointment of an administrative receiver does not create an automatic statutory moratorium. As such, creditors are not precluded from commencing...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Receivers—backgroundReceivers have been a recognised in English law as a remedy available to creditors and others wishing to protect their interest in...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
The receiver’s dutyThe duty owed by a receiver to a mortgagor when selling a property is the same as that owed by the mortgagee to a mortgagor:•in...
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Produced in partnership with Steve Innes of 4 New Square 9th Apr
Practice notes
Steps prior to appointmentThe power to appoint an administrative receiver lies with the holder of a floating charge subject to the following:•the...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Powers—generalThe statutory powers conferred on an LPA/fixed charge receiver are very limited and so for a receiver to exercise the duties which his...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Impact of appointmentThe effect of the appointment of an LPA/fixed charge receiver is very different from that of an appointment of an administrator,...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
This Practice Note covers the roles, powers, duties and liabilities of court-appointed receivers who are appointed pursuant to the Proceeds of Crime...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Effect of administration order on LPA receivershipWhere a company is in administration, any receiver of part of the company's property shall vacate...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
The Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal mortgage to appoint an LPA receiver. This right may alternatively (and more...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
This Practice Note addresses the Jersey law issues concerning the enforcement of secured immovable property interests in respect...
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Produced in partnership with Stephen Alexander of Mourant Ozannes 9th Apr
Practice notes
Remuneration and expenses of a Law of Property Act/fixed charge receiverThe Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, see our Coronavirus (COVID-19) toolkit....
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9th Apr
Practice notes
FORTHCOMING CHANGES relating to insolvency and tax: Finance Act 2020 introduces provisions where:•HMRC becomes a secondary preferential unsecured...
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Produced in partnership with John Baldry of Temple Tax Chambers 9th Apr
Practice notes
A note on terminologyThe Law of Property Act 1925 (LPA 1925) enables a mortgagee of a legal mortgage to appoint an LPA receiver:•when the mortgage...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
What is an administrative receiver?The Insolvency Act 1986 (IA 1986) sets out what an administrative receiver is as follows:•a receiver or manager of...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr
Practice notes
The appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in assets of a company. The creditor will...
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9th Apr
Practice notes
Administrative receivershipThe position of employees following the appointment of an administrative receiver As a general rule, employees are not...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 9th Apr

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